MeritValue

Nexera Technologies Ltd

NEXRdata completeness 100%6 fiscal years on file
The thesis, from the filings

Nexera Technologies Ltd earns about -75% on invested capital, and has bought back 89% of its shares over 5 years. The cash-flow models don't apply cleanly here — the ledger says why below.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$6.51M1$5.86M1$10M1$13.7M2$16.8M2
Net income−$1.54M3−$2.2M4−$4.6M5−$7.8M5−$3.68M5
Operating cash flow−$863,0006−$4.84M7−$2.67M8−$5.88M8−$6.22M8
Capital expenditure$2,0009$41,00010$25,00011$144,00011$11,00011
Free cash flow (derived)−$865,0006−$4.88M7−$2.69M8−$6.02M8−$6.23M8
Total debt$1.06M12$86,00012——$2.98M13
Cash & equivalents$393,00014$8.14M15$535,00016$2.56M17$1.64M17
Diluted shares413,19251,0323832,75345,357

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
Net assets behind them
$2,525.08
your share of equity
Profit it earned you last year
−$810.68
Free cash flow it threw off
−$1,373.99
Debt you’d be carrying
$656.35

10 shares is a claim on $2,525.08 of net worth that earned you −$810.68 and generated −$1,373.99 of cash last year, against $656.35 of debt.

iii. Is this a good business?
Moat signal · return on invested capital
-75% avg · 5y
FY21 -64%FY22 -36%FY23 -45%FY24 -198%FY25 -30%

It earned an average -75% on invested capital over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
−89% shares · 5y

Share count is down 89% over 5 years — management has been buying back stock, quietly handing owners a bigger slice. Total debt has risen 180% over the same window.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
not applicable
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
DCF · Growth Exit 5Y
not applicable
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 20-F · period ending 2021-12-31 · accession 0001213900-24-028253 (RevenueFromContractWithCustomerIncludingAssessedTax)
  2. 20-F · period ending 2024-12-31 · accession 0001213900-26-038003 (Revenues)
  3. 20-F · period ending 2021-12-31 · accession 0001213900-24-028253 (NetIncomeLoss)
  4. 20-F · period ending 2022-12-31 · accession 0001213900-25-025843 (NetIncomeLoss)
  5. 20-F · period ending 2023-12-31 · accession 0001213900-26-038003 (NetIncomeLoss)
  6. 20-F · period ending 2021-12-31 · accession 0001213900-24-028253 (NetCashProvidedByUsedInOperatingActivities)
  7. 20-F · period ending 2022-12-31 · accession 0001213900-25-025843 (NetCashProvidedByUsedInOperatingActivities)
  8. 20-F · period ending 2023-12-31 · accession 0001213900-26-038003 (NetCashProvidedByUsedInOperatingActivities)
  9. 20-F · period ending 2021-12-31 · accession 0001213900-24-028253 (PaymentsToAcquirePropertyPlantAndEquipment)
  10. 20-F · period ending 2022-12-31 · accession 0001213900-25-025843 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 20-F · period ending 2023-12-31 · accession 0001213900-26-038003 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 20-F · period ending 2021-12-31 · accession 0001213900-23-028401 (ShortTermBorrowings)
  13. 20-F · period ending 2025-12-31 · accession 0001213900-26-038003 (ShortTermBorrowings)
  14. 20-F · period ending 2021-12-31 · accession 0001213900-23-028401 (CashAndCashEquivalentsAtCarryingValue)
  15. 20-F · period ending 2022-12-31 · accession 0001213900-24-028253 (CashAndCashEquivalentsAtCarryingValue)
  16. 20-F · period ending 2023-12-31 · accession 0001213900-25-025843 (CashAndCashEquivalentsAtCarryingValue)
  17. 20-F · period ending 2024-12-31 · accession 0001213900-26-038003 (CashAndCashEquivalentsAtCarryingValue)